Bitcoin recorded losses in the early hours of Thursday, April 3, a day after President Donald Trump announced new tariff policies. The levies on several countries directly affected the price of the most popular cryptocurrency in the market.

The rising global tensions triggered a massive sell-off of assets, causing the price of bitcoin to fall in the market. Despite the Trump administration's efforts to promote cryptocurrencies with a more lenient regulatory approach, economic instability and fears of a potential global recession directly impact the value of the cryptocurrency.